Mohamed El-Shimy, Minister of Public Enterprises Sector, affirmed that the government is placing strong emphasis on maximising investment returns from state-owned assets and enhancing the contribution of public sector companies to the national economy.
His remarks came during a meeting on Saturday morning with Ashraf El Gendy, Governor of Gharbeya, and several members of Parliament from the governorate, as part of a visit to inspect the Tanta Flax and Oil Company. The company, which operates under the Chemical Industries Holding Company affiliated with the Ministry of Public Enterprises Sector, plays a key role in local industry. The visit reflects the state’s commitment to supporting national manufacturing and increasing the value of assets owned by public sector companies.
Discussions during the meeting focused on the development and modernisation plans for Tanta Flax and Oil Company, which aim to boost its competitiveness and enhance the added value of Egypt’s flax and oil industries. The talks also covered plans to expand and upgrade other companies affiliated with the ministry in Gharbeya, including the Misr Spinning and Weaving Company in Mahalla—one of the central pillars of the national project to revitalise the textile sector.
El-Shimy underlined the Ministry’s commitment to maintaining close engagement with MPs and listening to their ideas and proposals. He described Parliament members as key partners in driving the state’s development agenda. Ongoing coordination with legislators, he noted, helps ensure that the ministry’s plans effectively balance economic objectives with social development, particularly in promoting comprehensive growth across governorates and creating employment opportunities.
He added that the development of Tanta Flax and Oil Company forms part of a wider strategy to modernise high-value manufacturing sectors, maximise the use of local raw materials, and promote greater integration among affiliated companies.
For his part, Governor Ashraf El Gendy emphasised that Gharbeya places the modernisation of major industrial companies and broader industrial development at the heart of its priorities, viewing them as essential drivers of economic growth and job creation. He highlighted the governorate’s significant industrial base, which spans from Mahalla, a longstanding centre of textile manufacturing, to Tanta.
El Gendy reaffirmed the governorate’s commitment to fully supporting these companies in implementing their development strategies, with the goal of maintaining and strengthening their industrial leadership on both the local and regional levels.
